99% Cold Wallet Rule Mulled by South Korea Following Binance Hack

What happened: South Korean regulators are reportedly discussing raising the minimum share of customer crypto that exchanges must hold in cold wallets from 80% to about 99%, after the $6.3 billion Binance hack. Key numbers: Current requirement 80%. Proposed threshold about 99%, still under discussion. Why it matters: The proposal follows one of the largest security breaches in crypto history. No official decision has been made, and cold wallet ratios already vary widely among South Korea's leading exchanges. Coverage: 5 outlets in 24h

South Korean regulators are reportedly discussing raising the minimum share of customer crypto that exchanges must hold in cold wallets from 80% to about 99%, after the $6.3 billion Binance hack.

The proposal follows one of the largest security breaches in crypto history. No official decision has been made, and cold wallet ratios already vary widely among South Korea's leading exchanges.